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Published byAja Kennett
Modified over 2 years ago
Cody Mitchell Katerina Koule Vasiliki Pantzia
History of oil crisis and oil wars
OPEC – The leader of the oil market “Organization of the Petroleum Exporting Countries” 79% of world crude oil reserves 44% of the world’s crude oil production
Oil crisis of 1973 Occurred by the OPEC’s embargo to USA, Japan and Western Europe. Net loss of 4 million barrels/day 7.5% of the global output
Oil crisis of 1973 October 1973 - $21.06 per barrel March 1974 - $47.41 per barrel Annual change – 147%
Oil crisis of 1990-91 Occurred due to the Gulf War (August 1990-February 1991) 32 nations led by the United States against Iraq.
Oil crisis of 1990-91 August 1990 - $36 per barrel February 1991 - $56.39 per barrel Annual change – 65%
Oil crisis 2003 Occurred due to the Iraq War. March 2003 – invasion of USA and UK in Iraq
Oil crisis 2003 March 2003 – $40 per barrel July 2008 - $136 per barrel
Extract from the History Chanel documentary “History of Oil”
Energy Information Administration 25th Anniversary of the 1973 Oil Embargo 25th Anniversary of the 1973 Oil Embargo Energy Trends Since the First Major.
The United States and Oil How has America’s growing oil dependency affected US foreign policy toward the Middle East?
OIL PRICES. The New York Mercantile Exchange (NYMEX) is a commodity exchange which was founded in It handles billions of dollars worth of energy.
Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin Chapter 38 Energy Prices.
The Organization of the Petroleum Exporting Countries.
Petroleum Economics Istvan Csato Department of Geological Sciences University of South Carolina January 2002 Source: EIA.
Review: Oil in the Middle East. 1. Why was the Middle East’s location so important to European nations in the nineteenth century? Trade routes Strategic.
The World Oil Market in 2006 tutor2u
Chapter 36 Energy Prices Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin.
7. With whom did Middle Eastern countries align during the cold War? 8. The Iran Iraq War took place between what years? 9. The invasion of what country.
1973 oil crisis: Yom Kippur War 1979 oil crisis: Iranian Revolution 1990 oil crisis: Gulf War.
Welcome! Please read the board and review your notes for today’s quiz – Obj #6-12 and
3 - 5 December 2009 Alexander A. Dynkin IMEMO Director.
History of the Middle East “The Extras”. The Arab League Definition: an organization of 22 Middle Eastern and African nations where Arabic is the spoken.
Changing Patterns of Oil Consumption. Spec Analyse the global patterns and trends in the production and consumption of oil. 2 hours.
1 Capacity, Millions of Barrels/Day US Refining Capacity By Location Source: US Energy Information Agency.
Date: January 23 rd Thursday State Standard: Objective: SWBAT learn about how gas prices are affected by supply and demand. Do Now: Do Now: What.
McGraw-Hill/Irwin © 2002 The McGraw-Hill Companies, Inc., All Rights Reserved. Chapter 39 Energy Prices McGraw-Hill/Irwin © 2002 The McGraw-Hill Companies,
Fossil Fuels Geopolitical Implications. Petroleum Supply and the Global Economy Petroleum Fuel Lubrication Plastics Cost of importing – balance of trade.
© 2007 The McGraw-Hill Companies, Inc., All Rights Reserved. McGraw-Hill/Irwin Chapter 33 Energy Prices.
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